Dominion Energy (NYSE:D) Price Target Lowered to $62.00 at Morgan Stanley

Dominion Energy (NYSE:D) had its target price reduced by equities researchers at Morgan Stanley from $63.00 to $62.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 9.66% from the company’s previous close.

A number of other analysts also recently weighed in on the company. UBS Group lifted their price target on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Argus raised shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $58.63.

Dominion Energy Price Performance

Shares of D opened at $56.54 on Thursday. The firm has a market capitalization of $48.21 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.22 and a beta of 0.57. The firm’s fifty day simple moving average is $54.08 and its 200-day simple moving average is $55.04. Dominion Energy has a twelve month low of $47.99 and a twelve month high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. Dominion Energy’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts forecast that Dominion Energy will post 3.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Dominion Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock worth $5,106,823,000 after purchasing an additional 1,565,459 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after acquiring an additional 1,459,926 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after purchasing an additional 1,222,688 shares during the last quarter. Dodge & Cox raised its stake in Dominion Energy by 3.0% during the 1st quarter. Dodge & Cox now owns 23,308,378 shares of the utilities provider’s stock valued at $1,306,901,000 after purchasing an additional 685,245 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Dominion Energy by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock valued at $997,034,000 after purchasing an additional 601,900 shares during the period. 73.04% of the stock is owned by institutional investors and hedge funds.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.